Webuy Global Ltd. Announces Pricing of $3.7 Million Registered Direct Offering
Rhea-AI Summary
Webuy Global (Nasdaq: WBUY), a Southeast Asian community e-commerce company, has announced a registered direct offering of approximately 21,013,239 Class A ordinary shares at $0.1756 per share. The offering is expected to raise $3.7 million in gross proceeds before deducting placement agent fees and other expenses. The closing is anticipated around December 17, 2024. D. Boral Capital serves as the exclusive placement agent. The offering is being made through a shelf registration statement on Form F-3 that was declared effective by the SEC on December 3, 2024.
Positive
- Secured $3.7 million in additional funding through registered direct offering
Negative
- Significant share dilution with issuance of 21,013,239 new shares
- Low offering price of $0.1756 per share indicates weak market position
News Market Reaction
On the day this news was published, WBUY gained 29.27%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Singapore, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Webuy Global Ltd. (Nasdaq: WBUY) (“Webuy” or the “Company”), a Southeast Asian community e-commerce innovator, today announced that it entered into a securities purchase agreement with certain institutional investors to purchase approximately 21,013,239 Class A ordinary shares (or Class A ordinary share equivalents in lieu thereof) in a registered direct offering at a purchase price of
The gross proceeds to the Company from the registered direct offering are estimated to be approximately
D. Boral Capital LLC is acting as exclusive placement agent for the offering.
The proposed offering of the securities described above is being offered by the Company pursuant to a “shelf” registration statement on Form F-3 (File No. 333-283356) filed with the Securities and Exchange Commission (SEC) and declared effective by the SEC on December 3, 2024, and the accompanying prospectus contained therein.
The offering is being made only by means of a prospectus supplement and accompanying prospectus. The prospectus supplement describing the terms of the public offering will be filed with the SEC prior to the closing and will form a part of the effective registration statement.
Copies of the prospectus supplement and the accompanying prospectus relating to this offering may be obtained, when available, on the SEC’s website at http://www.sec.gov or by contacting D. Boral Capital LLC Attention: Syndicate Department, 590 Madison Avenue, 39th Floor, New York, NY 10022, by email at syndicate@dboralcapital.com , or by telephone at (212) 970-5150.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Webuy Global Ltd
Webuy Global Ltd. (Nasdaq: WBUY) is a forward-thinking, technology-driven company aimed at becoming the leading e-commerce and travel platform in Southeast Asia. Leveraging advanced AI technologies, the Company enhances its 'group buy' model by providing personalized recommendations, predictive demand analytics, and seamless community interactions. In addition, Webuy integrates AI-powered travel solutions, such as its proprietary AI Travel Consultant, to deliver personalized itineraries, group travel planning, and real-time support. These innovations streamline the traditional supply chain, foster a community-driven shopping experience, and simplify travel planning for its users. Webuy is committed to improving the lives of millions of families in Southeast Asia with high-quality, affordable products, services, and travel experiences. For more information, visit http://webuy.global.
Forward-Looking Statements
This press release contains forward-looking statements regarding the Company’s current expectations. These statements are not guarantees of future performance and are subject to certain risks and uncertainties described more fully in the Company’s filings with the SEC. Forward-looking statements are made as of this date, and the Company undertakes no duty to update them, except as required by law.
FAQ
How much is Webuy Global (WBUY) raising in its December 2024 offering?
What is the price per share for WBUY's December 2024 registered direct offering?
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When is WBUY's December 2024 registered direct offering expected to close?
Who is the placement agent for WBUY's December 2024 offering?
